Travel Money Tips: Cash, Cards, ATMs + Foreign Transaction Fees

Written By Shane Samuel

Money is one of those travel things that feels simple until you are standing at an ATM in another country trying to figure out whether the machine, your bank, or the exchange rate is about to finesse you lol.

My goal when I travel is pretty simple: have access to money, avoid unnecessary fees, and never rely on one payment method.

Bring More Than One Card

Do not travel internationally with one debit card and hope for the best.

I like having:

  • A primary credit card

  • A backup credit card

  • A debit card for ATMs

  • A little emergency cash

And I do not keep all of them in the same place.

If your wallet gets lost, stolen, or locked, you still need a way to pay for things.

Use a Card With No Foreign Transaction Fees

This is one of the easiest travel fees to avoid.

Some credit cards charge an extra percentage every time you make a purchase in another country.

If you travel internationally, I would strongly consider using a card with no foreign transaction fees.

Otherwise, every meal, Uber, hotel charge, and purchase can quietly cost you more.

Always Pay in the Local Currency

This is a big one.

Sometimes a restaurant, store, hotel, or ATM will ask whether you want to be charged in:

U.S. dollars
or
the local currency

Choose the local currency.

If you choose dollars, the merchant or ATM may use something called dynamic currency conversion, where they choose the exchange rate instead of your card network or bank.

That rate is often worse.

So if I am in Mexico, I pay in pesos.

If I am in Europe, I pay in euros where applicable.

Let your bank or card network handle the conversion.

Be Careful With Airport Currency Exchange Counters

Airport exchange counters are convenient.

They are also usually not where I want to exchange a lot of money.

You can get hit with:

  • Worse exchange rates

  • Service fees

  • Commission

  • Minimum transaction fees

If I need a little cash immediately, fine.

But I would not exchange my entire spending budget at the airport.

ATMs Are Usually My Preferred Way to Get Cash

When I need local currency, I usually prefer using an ATM.

But I try to use one attached to or operated by a legitimate bank rather than a random standalone machine in a tourist area.

Bank ATMs generally make me more comfortable because I know who is operating the machine.

Watch for ATM Fees

There can be multiple fees involved when using an ATM abroad:

  • The local ATM operator fee

  • Your own bank’s out-of-network ATM fee

  • A foreign transaction or currency conversion fee

That can add up fast.

Before traveling, check what your bank charges for international ATM withdrawals.

Some banks reimburse ATM fees or have international banking partners.

Decline the ATM’s Currency Conversion

This deserves its own section because ATMs love asking this question in confusing ways.

The ATM may offer to convert your withdrawal into U.S. dollars and show you a guaranteed exchange rate.

I usually decline that conversion and let my own bank handle the currency conversion instead.

You still receive the local currency.

You are simply declining the ATM operator’s exchange rate.

Take Out Enough Cash to Make the ATM Fee Worth It

If the ATM is charging a fixed fee, taking out the equivalent of $20 several times can get expensive.

I would rather make fewer withdrawals than pay the same fee over and over.

That does not mean carrying your entire trip budget in cash.

Just be strategic.

But Do Not Carry All Your Cash at Once

If I withdraw a larger amount, I split it up.

Some stays with me.

Some goes somewhere secure at the hotel or accommodation.

The goal is to avoid having your cards and all of your cash disappear together if something happens.

Keep Emergency Cash Separate

I always like having some backup cash that is not in my everyday wallet.

That money is for:

  • A taxi

  • Food

  • Transportation

  • An emergency

  • A situation where cards are not working

It does not need to be a huge amount.

It just needs to be enough to get you out of a problem.

Know When Cash Is Actually Necessary

Some destinations are heavily card-based.

Others still use cash frequently.

And even in card-friendly destinations, you may need cash for:

  • Tips

  • Markets

  • Street food

  • Taxis

  • Small businesses

  • Public transportation

  • Bathrooms

  • Small entrance fees

I like knowing the cash culture of a destination before I arrive.

Do Not Assume American Express Will Be Accepted Everywhere

If Amex is your primary card, I would still bring a Visa or Mastercard.

Acceptance can vary a lot depending on the country and the type of business.

A backup card on another network gives you another option.

Tell Your Bank You Are Traveling if Needed

A lot of banks no longer require travel notices because their fraud systems are more advanced.

But I still check before leaving.

The last thing I want is my card being declined because my bank suddenly sees transactions happening across the world.

Also make sure your bank has your current:

  • Phone number

  • Email

  • Contact information

If they flag something, you need to be able to verify it.

Save Your Bank’s International Phone Number

Do this before you leave.

Save the number for:

  • Your bank

  • Your credit card company

  • Any card you are carrying

If your card gets stolen or frozen, you do not want to be searching for the correct number while stressed.

Keep Your Phone Available for Verification

Banks may send:

  • Fraud alerts

  • Security codes

  • Purchase verification texts

  • App notifications

Make sure you know how you will receive those while abroad.

This is another reason I like keeping my regular phone number accessible even when I use an eSIM for data.

Use Mobile Wallets When You Can

Apple Pay, Google Pay, and other digital wallets can be really useful when traveling.

They can also reduce how often you need to physically pull your card out.

I still carry physical cards because not everywhere accepts mobile payments, but it is a nice additional option.

Check Your Account Regularly

I do not obsessively check every transaction while traveling, but I do look at my accounts.

Especially after:

  • Using unfamiliar ATMs

  • Going to bars

  • Using my card at smaller businesses

  • Making larger purchases

Catching a suspicious transaction early is a lot easier than discovering it weeks later.

Keep Receipts for Bigger Purchases

If you make a large purchase abroad, keep the receipt.

That can help with:

  • Returns

  • Credit card disputes

  • Customs questions

  • Tax refund programs

  • Tracking your spending

Take a photo too if it is something important.

Do Not Carry Your Entire Wallet Everywhere

You probably do not need every credit card, every debit card, your Social Security card, and your entire life in your wallet while walking around another country.

Take what you need.

Leave unnecessary cards and documents somewhere secure.

💡 SHANE’S TIP

My biggest rule is simple:

Never let one lost wallet completely ruin your trip.

Keep a backup card separate.

Keep some emergency cash separate.

Know how to contact your bank.

And do not make one card your only way to access money.

The Bottom Line

Managing money abroad does not need to be complicated.

Use a card without foreign transaction fees.

Pay in the local currency.

Be smart about ATMs.

Carry some cash.

And always have a backup.

The goal is to spend money on the trip itself, not unnecessary fees you could have avoided.

Go somewhere. Make it worth it.

Shane Samuel
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